Reserves fall to $26.43 billion

Bangladesh's foreign exchange reserves fell to $26.43 billion today, down from $28 billion on November 6, according to the International Monetary Fund's calculation method.

The reserves declined after $1.61 billion in import bills were settled through the Asian Clearing Union (ACU).

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Gross forex reserves cross $32b after 32 months

Tehran-based organisation ACU facilitates payment settlements among nine member countries: India, Bangladesh, Bhutan, Iran, the Maldives, Myanmar, Nepal, Pakistan, and Sri Lanka.

Under the ACU mechanism, Bangladesh clears its import bills every two months, leading to a temporary decline in reserves after each payment.

Foreign exchange reserves, which had dropped below $20 billion in the first half of last year, have been rising in recent months, buoyed by increased inflows of remittances and export earnings.